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Market Update

L&T to Buy Engineering Unit, M&M Takes 51% Stake in Peugeot Scooter

Author: Mukesh Buch
Last Update: 10:06 AM ET October 08 2014

6:00 PM Mumbai BEML won order for Rs 570 crore from Delhi Metro Rail Corp. KEC International secured orders worth Rs 1,029 crores. A subsidiary of L&T intends to acquire engineering services unit of the U.S.-based Dell. M&M agreed to acquire 51% stake in France-based Peugeot''s scooter business.

The Sensex Index fell 25.18 to close at 26,246.79 The CNX Nifty slid 9.70 to 7,842.70.

Gainers & Losers

BEML Ltd rose 0.7% to Rs 581.40 after the company won order for Rs 570 crore from Delhi Metro Rail Corporation.

KEC International Ltd increased 1.6% to Rs 103.45 after the company secured orders worth Rs 1,029 crores in its transmission & distribution, cables and renewables businesses.

Larsen & Toubro Limited jumped 2.3% to Rs 1,447.45 after the companys subsidiary intends to acquire the engineering services unit of U.S.-based Dell Inc for undisclosed amount.

McNally Bharat Engineering Company Ltd gained 1.8% to Rs 91.55 after the company secured order worth Rs 305.13 crore to construct water system for a thermal power project.

Mahindra & Mahindra Limited advanced 0.9% to Rs 1,371.90 after the company agreed to acquire 51% stake in France-based PSA Peugeot Citroen''s scooter business.

The company will invest $18.9 million in Peugeot motorcycle project.

Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc